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  • Captive Actuary Application

Get Captive Actuary Application

Oner of the Oklahoma Insurance Department, I hereby apply for authorization to certify as to the adequacy of loss reserves and loss expense reserves as required by the Captive Insurance Company Act O.S. 36 6470.1 et seq. INDIVIDUALS ONLY MAY APPLY 1. Full Legal Name: 2. Residence Address: 3. (a) Date of Birth: (b) Social Security Number: 4. Education.

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How to fill out the Captive Actuary Application online

Completing the Captive Actuary Application online is a straightforward process that ensures compliance with regulations set forth by the Oklahoma Insurance Department. This guide will provide you with clear, step-by-step instructions to help you navigate the application effortlessly.

Follow the steps to complete the Captive Actuary Application online.

  1. Press the ‘Get Form’ button to access the Captive Actuary Application form and open it in your preferred editing tool.
  2. Begin with your full legal name and ensure it is accurately entered where indicated.
  3. Input your residence address as requested to establish your current location for the records.
  4. Fill in your date of birth and social security number as necessary for identification purposes.
  5. Detail your educational background, listing all institutions attended, including high school, college, and any graduate or professional degrees. Clearly indicate your major area of concentration and any actuarial exams completed.
  6. Select and list any professional societies or associations of which you are a member.
  7. Provide your current chief occupation including position or title, duration at the job, employer name, mailing address, email address, and length of employment.
  8. Outline any concurrent jobs, positions, directorships, or officer roles you currently hold.
  9. Detail your complete employment record for the past 20 years, including dates, employer name and address, and title.
  10. Indicate your experience with property and casualty loss reserve and loss expense reserves.
  11. List the Oklahoma captive account(s) you are certifying as required.
  12. Check the applicable qualification boxes to confirm your eligibility to sign statements of opinion on loss and loss adjustment expense reserves.
  13. Read and certify that you understand and will comply with all provisions of the Captive Insurance Company Act.
  14. Sign and date the application before submitting it, and ensure the form is notarized as required.

Start completing your documents online for a smooth application process.

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Marsh Captive Solutions was the world's largest captive insurance company manager in 2022, with 1,567 captives under management, ing to a new Business Insurance survey.

Increase Control, Reduce Costs A captive insurance company represents an option for many corporations and groups that want to take financial control and manage risks by underwriting their own insurance rather than paying premiums to third-party insurers.

Premiums paid to a captive insurer can be tax-deductible if the arrangement meets certain risk-distribution standards. Thus, the business gets a current year write-off even though losses may never occur.

In addition to paying claims, the captive insurer must also factor in other operational costs, such as general and administrative expenses and applicable taxes. However, the captive insurer does benefit by investing the premiums it collects from the policyholders before making claim payments.

Cons of a Captive Insurance Plan Increased risk – With a captive, the owner-insureds put their own capital at risk. If a company experiences a high number of claims, that capital could be lost. This is why it's important to have robust risk management policies.

Captive insurance companies can be helpful when the commercial insurance market is unable or unwilling to provide coverage for certain risks. Drawbacks include overhead expenses, compliance issues, and the potential to be underinsured.

Increase Control, Reduce Costs The advantages of going captive are: Coverage tailored to meet your needs. Reduced operating costs. Improved cash flow.

How To Set Up a Captive Insurance Company: A 5-Step Primer Step 1—Determine the Likely Captive Structure. ... Step 2— Conduct a Captive Feasibility Study. ... Step 3— Interview and Retain a Captive Manager. ... Step 4— Select a Domicile. ... Step 5—Preparation and Submission of a Captive Application. ... Conclusion.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232